Traders Buy Shares of Nike (NKE) on Weakness

Traders purchased shares of Nike Inc (NYSE:NKE) on weakness during trading on Wednesday. $75.89 million flowed into the stock on the tick-up and $39.17 million flowed out of the stock on the tick-down, for a money net flow of $36.72 million into the stock. Of all equities tracked, Nike had the 25th highest net in-flow for the day. Nike traded down ($0.44) for the day and closed at $67.05

A number of research firms have recently issued reports on NKE. Citigroup reiterated a “buy” rating and issued a $78.00 target price (up previously from $74.00) on shares of Nike in a research note on Wednesday, January 31st. Susquehanna Bancshares reiterated a “hold” rating and issued a $57.00 target price on shares of Nike in a research note on Wednesday, December 13th. DA Davidson lifted their target price on shares of Nike from $68.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, December 26th. Barclays set a $75.00 target price on shares of Nike and gave the company a “buy” rating in a research note on Tuesday, January 9th. Finally, Vetr upgraded shares of Nike from a “hold” rating to a “buy” rating and set a $58.95 target price for the company in a research note on Monday, October 30th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $65.61.

The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $109,086.27, a price-to-earnings ratio of 29.15, a P/E/G ratio of 3.03 and a beta of 0.68.

Nike (NYSE:NKE) last released its earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. Nike had a net margin of 11.13% and a return on equity of 31.64%. The firm had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.39 billion. During the same quarter in the previous year, the business earned $0.50 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. equities research analysts anticipate that Nike Inc will post 2.26 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Friday, March 2nd. Nike’s dividend payout ratio is presently 34.63%.

In other news, insider Eric D. Sprunk sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $67.66, for a total value of $6,766,000.00. Following the completion of the transaction, the insider now owns 227,199 shares of the company’s stock, valued at approximately $15,372,284.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $65.00, for a total transaction of $8,775,000.00. Following the completion of the transaction, the chairman now directly owns 1,502,830 shares of the company’s stock, valued at approximately $97,683,950. The disclosure for this sale can be found here. Insiders have sold a total of 932,896 shares of company stock valued at $59,594,217 in the last ninety days. Company insiders own 3.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in NKE. Boys Arnold & Co. Inc. grew its holdings in shares of Nike by 1.8% in the 2nd quarter. Boys Arnold & Co. Inc. now owns 22,261 shares of the footwear maker’s stock valued at $1,313,000 after buying an additional 383 shares during the period. Airain ltd acquired a new position in shares of Nike in the 2nd quarter valued at $3,189,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Nike by 15.7% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 311,645 shares of the footwear maker’s stock valued at $18,387,000 after acquiring an additional 42,388 shares in the last quarter. Windsor Capital Management LLC lifted its position in Nike by 55.9% in the 2nd quarter. Windsor Capital Management LLC now owns 8,120 shares of the footwear maker’s stock valued at $479,000 after acquiring an additional 2,912 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in Nike by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 30,447 shares of the footwear maker’s stock valued at $1,796,000 after acquiring an additional 2,349 shares in the last quarter. 61.57% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: “Traders Buy Shares of Nike (NKE) on Weakness” was first published by Week Herald and is owned by of Week Herald. If you are reading this story on another site, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The legal version of this story can be viewed at https://weekherald.com/2018/02/23/traders-buy-shares-of-nike-nke-on-weakness.html.

Nike Company Profile

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply